Futures Traders: Get FREE daily videos covering today's hottest market
Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planking trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
With each Daily Alert video Jim reviews first-hand his featured chart of the day, discusses trading strategy, and highlights possible entry and exit points.
Enter your e-mail below to view the latest Daily Alert and receive a complimentary PDF on Cycle Trading techniques to find the right conditions for entering the market.
Soybean futures are currently steady to slightly higher with the August contract up as much as 3 3/4 after small losses on Thursday. Weekly export sales totaled 909,000 MT, including 548,900 MT in fresh bookings to China, and new-crop sales to Japan amounting to 20,800 MT. Chinese weekly buying continues to be larger than cancelations. While the EPA denied that the new rule on importing Argentine biodiesel would result in many additional imports, the soy oil market was down sharply anyway. Brazilian soybean harvest is estimated to be 6% completed. AgroConsult is projecting a 94 MMT crop, lower than the recent estimates from USDA and CONAB but still a record.